Gloucester Coal intersects thick Clareval Seam at shallow depth

摘要

Gloucester Coal Ltd has confirmed that drilling of the Clareval Seam on the prospective Eastern side of the Gloucester Basin has successfully identified thick intersections of shallow coal. The Company believes this could lead to a doubling of the reserves on the Eastern side of the Basin which are presently quoted at 6.5 million tonnes and increase total mine reserves at Duralie to over 25 million tonnes. Gloucester Coal Chief Executive Officer Mr Gavin May said "This is a significant find and an exciting development for Gloucester Coal. We believe the discovery may double our current reserves in the East Duralie area and contribute substantially to extending the life-of-mine operations."